City Hall
1 Dr. Carlton B. Goodlett
Place
San Francisco, CA 94102-
4689
City and County of San Francisco
Legislation Details
File #:
Version:
1
210764
Name:
Loan Agreement - Ambassador Ritz Four Percent,
L.P. - 55 Mason Street and 216 Eddy Street - Not to
Exceed $44,465,000
Status:
Type:
Resolution
Passed
File created:
In control:
6/29/2021
Clerk of the Board
On agenda:
Final action:
7/30/2021
Enactment date:
7/30/2021
364-21
Enactment #:
Title:
Resolution approving and authorizing the execution of a Loan Agreement with Ambassador Ritz Four
Percent, L.P., a California limited partnership, in an aggregate total amount not to exceed $44,465,000
for a minimum term of 55 years for a portion of the loan amount and maximum terms of 15 years, 28
years, and 40 years for other portions of the loan amount based on the requirements of the funding
sources, to finance the acquisition and rehabilitation of an existing 100% affordable multifamily rental
housing project for low income households, known as “Ambassador Ritz 4%,” consisting of 187 rental
units in two buildings located at 55 Mason Street and 216 Eddy Street; and adopting findings that the
Loan Agreement is consistent with the General Plan, and the eight priority policies of Planning Code,
Section 101.1.
Sponsors:
Mayor
Attachments:
1. Leg Ver1, 2. GPR 062221, 3. DRAFT Amended and Restated Loan Agmt, 4. DRAFT Promissory
Note, 5. DRAFT Deed of Trust - 55 Mason St, 6. DRAFT Deed of Trust - 216 Eddy St, 7. DRAFT
Declaration of Restrictions - 55 Mason St, 8. Form 126, 9. Pres Action Memo 070721, 10. BLA Report
071421, 11. Comm Pkt 071421, 12. Board Pkt 072021, 13. Form 126 Final, 14. Leg Final
Action By
Date
Action
Result
Ver.
RECEIVED AND ASSIGNED
President
6/29/2021
1
TRANSFERRED
President
7/7/2021
1
RECOMMENDED
Budget and Finance Committee
7/14/2021
1
Pass
ADOPTED
Board of Supervisors
7/20/2021
1
Pass
APPROVED
Mayor
7/30/2021
1